sovereign wealth fund

Saudi Arabia Pledges $40 Billion Investment In US Infrastructure Ahead Of Trump Visit

President Donald Trump shakes hands with Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman, Tuesday, March 14, 2017, in the State Dining Room of the White House in Washington. (AP/Evan Vucci)
Saudi Arabia is planning to cement ties with US President Donald Trump by investing $40bn in US infrastructure development, according to media reports.
The kingdom’s sovereign wealth fund is set to announce the plans which may be unveiled next week to coincide with Trump’s visit to the kingdom, sources told Bloomberg on Thursday.